Just this past February, Katy Perry and Russell Brand filed for divorce ending their marriage, which lasted only 14 months. They did not sign a prenuptial agreement and they were residing in California, which is a community-property state. Community-property states have laws which provide that both spouses are entitled to one-half of all the assets and income acquired during the marriage.
A prenuptial agreement can change the division required under law as long as the agreement is valid, signed by both parties, and both parties understand the rights they are forfeiting (they may also be required to have separate attorneys representing each spouse individually).
The division of assets may seem inconsequential because their marriage was so short-lived, but in the short time they were married, Katy Perry earned approximately $44 million! So Russell Brand could have been entitled to up to half of that amount because of California’s community property rules.
Unlike many marriages that end in divorce, Katy and Russell appear to have split amicably and Russell claims he is not interested in taking his one-half share of Katy’s income during the time of their marriage. Russell has stated that he didn’t marry Katy for her money and he doesn’t want to take any now that they are getting divorced.
Most spouses would not be quite so willing to walk away from a potential fortune. The best way to protect against unforeseen circumstances is to have a prenuptial agreement executed before the marriage. In the event that a couple divorces and doesn’t have a prenuptial agreement, spouses can always agree on how they prefer to divide property as long as both parties are aware of their rights and fully understand the agreement they are making.
Getting Legal Help
Experienced Sacramento Family Law Attorney Hal Bartholomew can help you get through your divorce with dignity and compassion. Contact Bartholomew & Wasznicky LLP today for knowledgeable and respectful representation. Call us at (916) 546-4393.